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PV, Incorporated transferred the operating assets of one of its business divisions into newly incorporated SV, incorporated in exchange for 100 percent of SV's stock.

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PV, Incorporated transferred the operating assets of one of its business divisions into newly incorporated SV, incorporated in exchange for 100 percent of SV's stock. PV's adjusted basis in the operating assets was $4 million, and its FMV was $10 million Required: b. Compute PV's realized gain, recognized gain, and basis in its SV stock. Note: Enter your answers in millions

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